Rethinking my retirement

With the right support, retirement could be the time of your life.

Handling life events

Many things can impact your retirement, such as:

Money troubles

Your savings might not meet what you need to retire comfortably.


Separating from your partner could affect your income.


You may have to retire early, or provide care without financial support.


Losing a loved one may mean added financial pressure.

Understanding your options

With so many ways to manage your money later in life, it’s important to review your options and plan ahead, so you can make the right choice.


Understand your situation

The first step to a successful retirement is to fully understand your situation. Our Retirement Planner can help you to get a better understanding.

Trace your pension funds

Make sure that you have access to everything you've saved. If you want to know how to check, see the government's Pension Tracing Service.

Discover what you're entitled to

Find out what benefits you can claim.


Think about where you want your money to go in the future.

Making a will

Make a will to be certain of who your money will be passed on to.

Inheritance tax planning

You may want to plan for inheritance tax, especially if your assets are worth more than £325,000.

Find an independent adviser

Facing difficult circumstances? The first thing you should do is speak to a financial adviser. If you don’t have an adviser, you can find one locally at


Take a look at choices you could make to help achieve your goals.

Part-time work

You may be able to work part-time while still receiving your pension. This would mean decreasing the hours in your current job, or finding part-time work elsewhere.

Delaying your retirement

You may continue to work until you’re in a better financial position. Remember that this may impact things like your pension payments and access to benefits, so check with your pension provider and get independent advice if you need it before making a decision.

Your home could support your retirement

The value of your home could boost your retirement in a few different ways:

  1. Equity release

    If you're a homeowner over the age of 55, a lifetime mortgage may be an option.

  2. Letting out a room in your house

    Do you have a bedroom going spare? Renting it to a lodger could help you earn extra money.

  3. Downsizing

    Once your children have moved out, you may not need as much space. Selling your home and downsizing to somewhere less expensive, or even switching to a rented property could put more money in your pocket, and make bills cheaper.

Live Happier

Get the knowledge, skills and support you need for a happy retirement.

Sign up for interactive talks, helpful videos, articles from our experts and a like-minded online community.

Get started

Plan with our tools

Whether your retirement’s a long way off or just around the corner, having a clear idea of how to achieve your aims is important. Aviva’s simple online tools and calculators are here to help.

Learn more about retirement

Important information about this video

The information contained within the videos on the Investment and Retirement site was, to the best of our knowledge and belief, correct at the time of filming and unless otherwise stated, relates to the 2016/2017 tax year. Tax rules may change in the future. These videos should not be used as a substitute for financial advice and the content may not apply to your personal circumstances. If you are not sure whether this product is right for you, you should seek financial advice. If you do not currently have a financial adviser you can find one at

Intro to Equity Release

Video transcript

Having a clear out?

I bet there’s a lot of your past hidden away inside that house. But here’s something to think about. Your future might be locked up in there, too.

You’re both over 55, right?

And you own a home worth at least £75,000?

That’s good, because equity release providers do take your age and the value of your home into account when they’re deciding who’s eligible. They’re often around this level but can vary between providers.

All right then. Let’s see what we could find locked up in the value of your home. Equity release is a way of unlocking some of the value of your property. It’s not suitable for everybody, but if you are eligible it’s a way to access money from your home without having to move.

With a lifetime mortgage, the most common form of equity release, you don’t usually have to make any repayments until you die or go into long term care, but interest will be charged on the full amount.

So let’s look at what might be inside that house…

Your grandchildren’s education.

Special treats such as a nice holiday or a new car.

Home improvements.

Helping your kids get on the property ladder.

Or just a more secure retirement.

Not everyone looks on their home as a part of their financial planning, but if its value has gone up, you may have been saving for your future without realising it.

So you might find you can hang on to all those good memories tied up in your home and think about a way to make some more for the future.

Taking out equity release may affect your tax position and any entitlement to welfare benefits.

You should bear in mind that equity release will reduce the inheritance you could leave – possibly to nothing.

Equity Release Myths

Video transcript

Today we’re going to be challenging some myths.

OK. Bring on the first myth.

Err… not you Colin. You’re not the sort of myth we’re after.

We’re talking about the myths of equity release, a way of releasing some of the value locked in your home… The type of equity release offered by Aviva is a lifetime mortgage.

Many people think that taking out a lifetime mortgage means they won’t own their home any more.

But this isn’t true. It’s your home as long as you need to live in it.

Because these lifetime mortgage are, well, mortgages, some people think they’ll have to make monthly repayments.

But no regular repayments are ever required – instead the loan is repaid either when you die or if you go in to long-term care.

Some people worry that if the value of their home were to go down, their family would be lumbered with a nasty debt after they’d gone.

But as members of the Equity Release Council, Aviva offers a No Negative Equity Guarantee.

You should always talk to family members before taking out equity release. And yes, it will reduce the inheritance you could leave.

But you will have the option to take up a product with inheritance protection, so you could effectively ring fence a percentage of the value to leave to your loved ones. Bear in mind that, if you choose this option, you may not be able to borrow as much.

There are portable products available. Depending on a number of factors, including the value and type of house you’re moving into, you could be able to bring your lifetime mortgage with you when you take off for somewhere new.

So, another myth disproved. But that’s the thing about myths.

They’re not real.

Trace your lost pensions

Video transcript

These days, people change jobs frequently.

As a result, they may have pensions that they’ve forgotten about or have lost the paperwork for.

Don’t worry if this sounds like you, because you can get free help from the Government’s ‘Find Pension Contact Details’ webpage.

Just go to

(Web address moves to bottom of the screen and stay son screen through the duration of the video)

And contact the Pension Tracing Service. Their details can be found on our pension tracing page.

You’ll just need to know the type of pension you’re looking for, whether it be a;

  • A workplace pension
  • A personal pension
  • Or a civil service, NHS, teacher or armed forces pension.

You’ll also need to know the employer’s name.

The Pension Tracing Service will then give you the details you’ll need to contact your pension scheme provider.

To help your pension provider when you contact them, please have to hand your full name, home address and any other contact information, like phone number or email.

It’s that simple!

News & Views

Keep up with the latest news and expert views on retirement

Read more

Need some help?

Ask a question

There’s a lot to think about when planning your retirement. Take a look at our

Frequently Asked Questions.

Already a customer?

You'll find many of our products in MyAviva – but if yours isn't there, you can look it up here:

Contact us about another product

Back to top